One secret to becoming financially independent in the shortest period of time.

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One secret to becoming financially independent in the shortest period of time.

Post by wallmann on Tue Nov 03, 2009 5:15 pm

Have you ever thought what it would be like if you didnít have to go into a regular job?
Now, that does not mean you wouldnít go to work anymore. What I mean is working for
yourself, being self-employed.

Yes, it would be different. For starters, the more you work, the more youíll benefit your-
self, not some company. Normally, when you are the employee, any extra efforts on your
part benefit the company and not you. That is a VERY important difference when it comes to achieving personal financial goals.

If you are fixing up a rental property for monthly cash flow or to flip for a profit, all the money you earn from your work is yours to keep. If you are working for somebody else, you could be making thousands for them, but only profit a little yourself.

Letís say you are an agent and I purchase a $100,000 income property for $80,000 When I buy it, youíll probably make a 6% commission or $4800 in this case, and you will have to give part of that to the broker and perhaps part to another agent involved, so you might only make $1200 and thatís it.

Now, letís look at my side of the equation: Iíve made $20,000 in non-taxable up-front profit by negotiating a good deal. If the property needs some fix-up, Iíll have that done, raise the rents and enjoy monthly cash flow. Or I could do a two year lease-option agreement and sell it for $110,000 at a higher rent by offering attractive terms.

You donít have to have a math degree to see that working for yourself has some extra financial advantages. You have the flexibility of making money in several ways. In this example I made $30,000 and the agent made $1200. So, I made almost 25 times as much as the agent. This is one of the secrets to becoming financially independent in the shortest period of time.

So, whatís the biggest obstacle to financial independence. I would have to say it is FEAR! Most fear change and the uncertainty of what will happen next. None of us get any guarantees, but I can tell you from experience, most fears can be overcome with knowledge.

If you are looking for a better way, real estate investing could be the answer to your prayers. Yes, learning new exciting methods to make money does require some effort on your part and how fast you accomplish this is up to you.

Opportunities to profit from real estate have never been better and it doesnít cost you an arm and leg to get started. People just like you, can still achieve financial independence and share in the American Dream.

Larry G. Potter has been investing in real estate since 1984 and is the #1 team leader at Home Seller Assist, otherwise known as We Provide The Cash, provider of weekly RE training and 100% funding to purchase residential and commercial properties.


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